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re: Who had their student loans wiped out today?

Posted on 11/28/23 at 11:24 pm to
Posted by CarpeDiem
Member since Dec 2011
607 posts
Posted on 11/28/23 at 11:24 pm to
I wonder if they will have to pick it up as income with IRS
Posted by Kjnstkmn
Vermilion Parish
Member since Aug 2020
10781 posts
Posted on 11/28/23 at 11:30 pm to
Great, now more people can afford to major in Taylor Swift studies:

Taylor Swift College Courses to Be Offered at Harvard, UC Berkeley, University of Florida
This post was edited on 11/28/23 at 11:31 pm
Posted by GhostOfFreedom
Member since Jan 2021
11840 posts
Posted on 11/29/23 at 7:49 am to
I don't agree with it, but I would rather this had been done than send one dime to those crooks in Ukraine.
Posted by Wally Sparks
Atlanta
Member since Feb 2013
29275 posts
Posted on 11/29/23 at 9:26 am to
For context:

quote:

The Biden administration used existing programs, including Public Service Loan Forgiveness and income-driven repayment plans, to deliver the debt cancellation. Previously, the relief under these programs was hard to access.
Posted by HottyToddy7
Member since Sep 2010
14032 posts
Posted on 11/29/23 at 9:26 am to
I'm under PSLF and IDR and have not seen a cent.
Posted by wackatimesthree
Member since Oct 2019
4218 posts
Posted on 11/29/23 at 9:28 am to
Great, so blue collar workers can pay for snot-nosed idiots who got degrees in Lesbian Dance Theory.

At least the Democrats are still for the "little guy."
Posted by AUauditor
Georgia
Member since Sep 2004
1043 posts
Posted on 11/29/23 at 9:38 am to
Remember when the left and their "media" visorated Trump for wanting his signature on Covid checks, because it was an election ploy...was that (D)ifferent when it happened then?
Posted by HVAU
Far, far away
Member since Sep 2010
4640 posts
Posted on 11/29/23 at 9:40 am to
Honestly, it’s kind of like a business write off for the government.
Posted by AUauditor
Georgia
Member since Sep 2004
1043 posts
Posted on 11/29/23 at 9:42 am to
Just for clarifcation from the article...Biden didn't do anything. These were programs already in place and likely approved by Congress.

"The Biden administration used existing programs, including Public Service Loan Forgiveness and income-driven repayment plans, to deliver the debt cancellation. Previously, the relief under these programs was hard to access."

$17,500 of my daughter's student loans will be forgiven (by Congress) next year after she finishes were fifth year of teaching in math in a Title I school. It was an obligation that she met for this forgiveness; therefore, she earned it by working with kids with, generally speaking, crappy parents who do not support teachers and their kids' education.
Posted by SlowFlowPro
Simple Solutions to Complex Probs
Member since Jan 2004
423792 posts
Posted on 11/29/23 at 9:43 am to
Most of these are part of the PSLF program which is an old law passed by Congress. This isn't a unilateral admin action like the one the USSC slapped down.
Posted by Tmo Sabe
GA
Member since Mar 2022
616 posts
Posted on 11/29/23 at 10:38 am to
Honestly better than sending it to Ukraine or Isntrael, but theft is theft.
Posted by Wally Sparks
Atlanta
Member since Feb 2013
29275 posts
Posted on 11/30/23 at 7:55 am to
quote:

I'm under PSLF and IDR and have not seen a cent.


Did you finish the 120 payments you would've had to make under PSLF?
Posted by dstone12
Texan
Member since Jan 2007
30491 posts
Posted on 11/30/23 at 7:57 am to
quote:

I think I had two payments left.



That’s the funny thing.

Some have thousands. Some paid thousands.

I paid mine off 6 years after graduating and felt pretty good about it.

There are some kids that want to pay the off while some believe it’s a right to have free education.


Crazy.
Posted by HottyToddy7
Member since Sep 2010
14032 posts
Posted on 11/30/23 at 8:03 am to
quote:

Did you finish the 120 payments you would've had to make under PSLF?


I'm close (less than 12 payments) but not yet.

These programs have been around for over a decade. Why would anything with people being in these programs have changed under Biden? Make 120 payments, work in public service, get loans forgiven.

What did Biden do to change these?
This post was edited on 11/30/23 at 8:05 am
Posted by LSUGrrrl
Frisco, TX
Member since Jul 2007
33304 posts
Posted on 11/30/23 at 8:05 am to
Thought courts ruled against this.
Posted by HottyToddy7
Member since Sep 2010
14032 posts
Posted on 11/30/23 at 8:11 am to
quote:

Thought courts ruled against this.



That is what I am trying to figure out. This sounds like programs that have existed for years and are just doing what they have always done. I have no idea what Biden has to do with this.
Posted by Wally Sparks
Atlanta
Member since Feb 2013
29275 posts
Posted on 11/30/23 at 12:56 pm to
quote:

I'm close (less than 12 payments) but not yet.

These programs have been around for over a decade. Why would anything with people being in these programs have changed under Biden? Make 120 payments, work in public service, get loans forgiven.

What did Biden do to change these?


Yeah, once you finish you should be good to go. I was on PSLF a decade ago but the horror stories I heard once people became eligible to get forgiven made it to where I just decided to pay them off.
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